US imposes tariffs on aluminum sheet from 18 countries
The tariffs were being immediately imposed on countries including Germany and Bahrain, even though the department`s determination that there was dumping was preliminary, he told Fox Business Network.
The United States is imposing new tariffs on $1.96 billion worth of aluminum sheet products from 18 countries after determining that the goods were being dumped, US Commerce Secretary Wilbur Ross said on Friday.
The tariffs were being immediately imposed on countries including Germany and Bahrain, even though the department`s determination that there was dumping was preliminary, he told Fox Business Network.
Brazil, Croatia, Egypt, Greece, India, Indonesia, Italy, Oman, Romania, Serbia, Slovenia, South Africa, South Korea, Spain, Taiwan and Turkey were also affected, he said.
Ross said the US International Trade Commission would make the final determination in February 2021.
He said China was not on the list, adding US tariffs had already been imposed on Beijing`s aluminum products, which led to Chinese excess capacity that displaced production in other countries and resulted in dumping in the United States.
The tariff rate would be largest against Germany with 52% to 132% followed by Bahrain with rates in single digits, Ross said.
See Zee Business Live TV Streaming Below:
He said a rise in US consumption of certain products amid the pandemic, such as recreational vehicles and boats, increased the importance of aluminum sheet pricing. (Reporting by Susan Heavey; Editing by Toby Chopra and Edmund Blair)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES

SIP Calculation at 12% Annualised Return: Rs 10,000 monthly SIP for 20 years, Rs 15,000 for 15 or Rs 20,000 for 10, which do you think works best?

FD Rates for Rs 10 lakh investment: Compare SBI, PNB, HDFC, ICICI, and Post Office 5-year fixed deposit returns

LIC Saral Pension Plan: How much should you invest one time to get Rs 64,000 annual pension for life?

SIP Calculation at 12% Annualised Return: Rs 1,000 monthly SIP for 20 years, Rs 4,000 for 5 years or Rs 10,000 for 2 years, which do you think works best?

UPS vs NPS vs OPS: Last-drawn basic salary Rs 90,000 and pensionable service 27 years? What can be your monthly pension in each scheme?

Monthly Pension Calculations: Is your basic pension Rs 26,000, Rs 38,000, or Rs 47,000? Know what can be your total pension as per latest DR rates
01:33 PM IST